Eveready charges ahead

Eveready Industries is doing very well today morning; figuring among the top five gainers on the BSE, from its close of Rs.299.35, it opened today at Rs.290.95 and rose to an intraday high at Rs.314.35. Its 52-week high is at Rs.393.

Though the company has posted a loss for Q4FY23, the market has given this a thumbs up as the loss has narrowed. Its consolidated net loss for the quarter came in at Rs.14 crore v/s loss of Rs.38 crore (YoY).

Revenue from operations rose 19% to Rs.286 crore.

All the three segments saw growth – batteries rose 21%, flashlights at 25% and lighting at 26%.

For FY23, company’s net profit fell 40% to Rs.28 crore while revenue was up 10% at Rs.1328 crore.

Eveready remains the market leader in dry cell batteries with a market share of 53.4% FY23.